Silver price declined in its recent short-term trading after the price managed to ease its overbought condition on the relative strength indicators, pushing those indicators into relatively oversold areas compared to the price movement. This is considered a strong signal of renewed positive momentum entering the market, which could support a recovery and renewed upward movement in the near term, especially as positive pressure continues from trading above the EMA50, while the main short-term trend remains bullish, reinforcing the chances of this recovery.

Gold price rose cautiously in its last trading, benefiting from its stability of EMA50, gaining bullish momentum that helped it to achieve these weak gains, especially with the emergence of positive signals from the relative strength indicators, after reaching oversold levels, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line for this path.

The (EURUSD) declined during its recent intraday trading, after offloading the oversold conditions on the relative strength indicators, to begin sending negative signals again, which intensifies the negative pressure in its near upcoming trading, affected by breaking main bullish trend line on the short-term basis, with the continuation of the negative pressure due to its trading below EMA50, reducing the chances of near term recovery.

No change for EURCHF negative trend due to its stability below 0.9260 resistance, to settle below the moving average 55 and reaching 0.9110 level.

The price needs a new negative momentum to get rid of stochastic positivity, to begin forming strong bearish wave, attempting to press on 0.9070, to renew the press on the support at 0.8975.

The expected trading range for today is between 0.9070 and 0.9180

Trend forecast: Bearish